President Donald Trump has signedan anti-government shutdown bill that will eliminate $12.7billion in Affordable Care Act health insurer fee taxes for2019.

The new “Extension of Continuing Appropriations Act, 2018″(ECAA) will also:

  • Give the federal government official permission to spend money,and continue with normal operations, until Feb. 8.
  • Extend funding for the Children's Health Insurance Program forsix years.
  • Push the scheduled start date of the ACA Cadillac plan tax, or 40% excise tax onhigh-cost employee health benefits packages, back to 2022, from2020.
  • Suspend collection of the ACA medical device tax for twoyears.

Congressional Budget Office analysts have predicted the healthinsurer tax and Cadillac plan provisions will reduce federalrevenue by a total of about $29 billion over 10 years.

A summary of the bill posted last week is available here.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Allison Bell

Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.